KKR to Invest US$100 Million in Avantha Group (Asia)
Source: The Economic Times | Author: Arun Kumar
Global investment firm Kohlberg Kravis Roberts & Co. (KKR) has signed a deal to invest US$100 million in India-based Avantha Group, a business conglomerate with diverse interests ranging from pulp and paper to power transmission to food processing. KKR will subscribe to five-year callable securities issued by Avantha Holdings, the holding company of Avantha Group. The company intends to use the funds to trim debt and infuse capital in the group’s companies. KKR previously invested about US$125 million in two tranches in Avantha Group subsidiary Avantha Power and Infrastructure.